COVID-19 Report

COVID-19 Report - Scenarios and impact on global energy markets

 

We have now published our 13th Edition of the COVID-19 Report (released on June 11). Rystad Energy's COVID-19 Report will be regularly updated, offering scenario analyses, and evaluating the impact on global energy markets.

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Highlights of this edition include:

  • The virus is developing at a worrying pace in Latin America and South Asia. If further measures are not implemented to control the virus, the aggregated number of infected cases will double every 12 days in Southern Africa, every 14 days in Central America, every 18 days in South America, and every 29 days in South Asia.
  • Strong oil demand recovery in the US in May will pave the way for further activity increase during the summer, but uncertainty looms. US oil demand is now at 18 million bpd in 2020, down 12% from 2019 levels with road fuels down 10%. Despite the large impact on jet fuel demand in 2Q20, the US is still one of the largest consumers of jet fuel at 970,000 bpd due to the resilient domestic market.
  • By July, global oil demand may recover by close to 15 million bpd since the bottom in April. The quickest recovery will be seen in East Asia while the slowest recovery is expected from the Rest of world, where we see an impact of 2.7 million bpd for 2020 in the effective retainment scenario.

 

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